Nov 26th, 2006 by ravi
EPI report on “tort costs”

The EPI takes a look at bogeyman claims about tort costs:

Tort costs and the economy: Myths, exaggerations, and propaganda

[…]

Conclusion

It is hard to find any evidence that increased tort costs have harmed the U.S. economy. The economic case made by tort system critics to justify changes in the system is remarkably weak. The costs of the tort system have been grossly exaggerated, and its supposed impact on job creation, R&D, productivity, and profits has been exaggerated or simply invented. With respect to job creation in particular, significant tort law change would be more likely to slow employment growth than to promote it. There is no reason to believe that the kinds of tort law change the Bush administration advocates will have significant positive effects on the economy.

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One Response

  • light says:

    Don’t broadcast this everywhere…people might be encouraged to sue like crazy. Then there’ll be so much more strain on the courts than there already is. I know that there’s a back log of cases.

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